Servicing

Porter Bancorp struggled in the third quarter reporting a net loss of $12.2 million. For the year, the Louisville, Ky.-based bank's shareholders have lost $50.8 million.

Webster Bank is offering special assistance to homeowners and businesses affected by the October snowstorm that slammed parts of the Northeast region.

Ally Financial Inc. is actively considering putting its ailing Residential Capital Corp. mortgage lending unit into bankruptcy, according to a report from Dow Jones.

Fannie Mae reported a net operating loss of $5.1 billion for the third quarter, compared to a $1.3 billion loss a year ago, as fair value changes on derivatives and interest rate swaps swamped revenues.

Walter Investment Management Corp. posted a $61.7 million loss in the third quarter, citing higher operating and debt costs tied to its purchase of specialty servicer Green Tree Servicing, St. Paul, Minn.

The Mortgage Bankers Association posted a $28.4 million loss for its fiscal year ending September 30, 2010, almost double the loss it suffered the year before.

County and state officials are turning up the heat on MERS, as recent lawsuits filed in Florida and Delaware challenge the validity and accuracy of the mortgage industry-controlled loan registry.

Mortgage Guaranty Insurance Corp.'s delinquent loan inventory declined by over 1,000 loans in October although new notices outpaced cures by 3,500 loans.

Whether users call it a one-stop shop, bounded services or component servicing, vendors are racing to leverage easy-to-use technology that can be constantly updated with new tools capable to help manage the mortgage servicing process and enhance the resale value of distressed properties.

The government's effort to streamline its refinancing program for mortgage borrowers who owe more than their homes are worth will amount to a wealth transfer from investors. But which investors? And how much of a transfer?